Edward J. Mcgowan Sells 2,456 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CFO Edward J. Mcgowan sold 2,456 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $103.92, for a total value of $255,227.52. Following the completion of the transaction, the chief financial officer now owns 15,712 shares of the company’s stock, valued at $1,632,791.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Akamai Technologies Trading Up 1.0 %

Shares of NASDAQ AKAM traded up $1.09 during midday trading on Monday, hitting $105.59. 2,002,985 shares of the company traded hands, compared to its average volume of 1,583,588. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.00 and a current ratio of 2.00. Akamai Technologies, Inc. has a 12-month low of $70.65 and a 12-month high of $107.47. The stock has a 50-day moving average price of $98.95 and a 200 day moving average price of $88.81. The firm has a market cap of $16.02 billion, a P/E ratio of 35.50, a P/E/G ratio of 2.45 and a beta of 0.76.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, August 8th. The technology infrastructure company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.10). The firm had revenue of $935.72 million during the quarter, compared to analysts’ expectations of $931.52 million. Akamai Technologies had a net margin of 12.64% and a return on equity of 14.41%. As a group, analysts expect that Akamai Technologies, Inc. will post 4.43 earnings per share for the current year.

Analysts Set New Price Targets

AKAM has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of Akamai Technologies from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, August 29th. Bank of America began coverage on Akamai Technologies in a research report on Thursday, September 7th. They issued a “buy” rating and a $145.00 price objective for the company. Robert W. Baird increased their price target on Akamai Technologies from $94.00 to $108.00 in a report on Thursday, August 10th. DA Davidson lifted their price objective on shares of Akamai Technologies from $100.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, Morgan Stanley raised their price target on shares of Akamai Technologies from $94.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.41.

Institutional Investors Weigh In On Akamai Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ancora Advisors LLC increased its position in Akamai Technologies by 103.3% during the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 127 shares in the last quarter. Belpointe Asset Management LLC bought a new position in Akamai Technologies in the 4th quarter worth about $29,000. Mcmillion Capital Management Inc. bought a new stake in Akamai Technologies during the 2nd quarter valued at about $34,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Akamai Technologies by 178.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 401 shares of the technology infrastructure company’s stock worth $36,000 after buying an additional 257 shares in the last quarter. Finally, Dark Forest Capital Management LP increased its position in shares of Akamai Technologies by 524.7% during the first quarter. Dark Forest Capital Management LP now owns 556 shares of the technology infrastructure company’s stock valued at $44,000 after acquiring an additional 467 shares in the last quarter. Hedge funds and other institutional investors own 91.40% of the company’s stock.

About Akamai Technologies

Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software over the internet in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.